PLANSPONSOR Weekend Newsdash
Week ending August 5th, 2016
Happy Friday, PLANSPONSOR readers! This week, we learned that Millennials do not have confidence they will be able to save $1 million for retirement; however, Fidelity finds Millennials have record account balances. For those of you responsible for open enrollment at your company, the time is drawing near, and Mercer suggests it may be a good time to also promote retirement plans. In addition, two more self-dealing lawsuits were filed this week. All this and more news in this edition of PLANSPONSOR Weekend.
Editor's choice
Benefits
Open Enrollment Not Just About Health Benefits
Mercer experts reviewed open enrollment objectives and recent developments in the health care provider market during a webcast Thursday—suggesting open enrollment can also be a time to address the retirement package.Read more >
Data and Research
Most Millennials View Retirement Savings Goal as Impossible
The majority of working Millennials, 64%, do not think it will be possible for them to save $1 million—frequently cited as a savings target—over the course of their lifetime, according to the Wells Fargo Millennial Study.Read more >
Data and Research
Fidelity Finds Millennial 401(k) Account Balances at Record Levels
Fidelity’s latest retirement analysis reveals its customers have increased their 401(k) balances on average and its Millennial account holders are making record savings.Read more >
Compliance
Neuberger Berman Accused of Self-Dealing in 401(k) Plan
The case calls out one fund in particular, which it says “was larded with high fees and has suffered from consistently abysmal performance.”Read more >
Compliance
Franklin Templeton 401(k) Plan Latest Cited in Self-Dealing Suit
Allegations are similar to a number of other self-dealing lawsuits against fund managers this year.Read more >
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MOST POPULAR STORIES
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
Participants Will Need Support to Understand Lifetime Income Projections

Recordkeepers are bolstering education, projection modeling tools and tailored advice capabilities to support plan participants and encourage them to remain on track for retirement income planning.

2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?
Milliman Accused of Failing to Prune Bad Investments From 401(k)

A lawsuit alleges that the poor performance of a suite of target-risk funds resulted in a nearly $250 million loss to participant accounts.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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